Why New Jersey businesses should go solar
As a solar development firm focused exclusively on commercial, grid-tied solar photovoltaic systems, we get asked all the time, “Why should my company consider going solar?”; especially given the difficult economic conditions businesses continue to face.
For most New Jersey businesses, the answer is simple: the potential investment returns from a well-designed and properly-executed solar photovoltaic system are compelling and compare favorably with just about any alternative capital investment opportunity.
We at EnterSolar are passionate about the substantial environmental benefits of solar photovoltaic energy, but many of our clients are decidedly more interested in a different sort of “green”.
Whether you measure solar project investment returns from a Net Present Value basis, or Simple Payback, or Internal Rate of Return, or from a Profitability Index standpoint – by any measure, the Return on Investment for a well-structured NJ commercial solar photovoltaic system in 2011 is outstanding.
These superb solar photovoltaic economics are driven by the recent convergence of:
- New Federal Solar Incentives, specifically the Section 1603 Treasury Cash Grant program which was recently extended through 2011, and the new 100% Bonus Depreciation benefit which also is in effect through 2011.
- Attractive New Jersey solar incentives including the robust Solar Renewable Energy Credit (SREC) marketplace and the related SREC-Based Financing Programs offered by the state’s utilities.
- Significant reductions in the cost of solar photovoltaic systems.
Explore Solar Energy Systems
For tax-paying New Jersey corporations, the message is clear: if you haven’t explored the potential economic returns of solar photovoltaics, now is the time. And if your business had ever considered going solar in the past, it may be time to give it a fresh look – the investment proposition has improved dramatically even over the last several months.